Riverside buys Summit Medical

The Riverside Company, a US private equity firm with offices in Europe, has acquired Summit Medical, a supplier of single-use medical devices, from UK mid-market private equity house Graphite Capital for £36m (US$71.5m).

Graphite backed the £17m buy-in management buyout of Summit Medical in September 2001 and has since made two bolt-on acquisitions, including Marshall Contracts, a Birmingham-based manufacturer and supplier of hospital products in the UK.

Based in Gloucestershire, Summit Medical’s products focus on orthopedics and infection control and include cement mixing devices, autologous blood transfusion and wound drainage devices, disposable anti-bacterial hospital privacy curtains and specialist implants used in knee and hip replacements.